Asset backing started at 96.4c, finishes at 57.5c Newmarket Property Trust started out in 1995 as a subsidised bond issue backed by investment & development properties and has ended its time as a loss-making semi-detached unit still not clear on direction. FAI Metlife took the Rialto, adjoining Newmarket Broadway office block, Rialto carpark on Teed/Kent […]
Read more →Newmarket Property Trust
Newmarket trust savaged in town, keeps value at home
AA Centre value chopped 13%, Broadway holds own Newmarket Property Trust’s bottom line fell 79% to $1.584 million in the year to June, courtesy of a 13% downward revaluation of the AA Centre in Auckland. Over the whole portfolio, the devaluation came to only 3.6% because the trust’s three Newmarket properties all held their values. […]
Read more →Newmarket Property Trust net falls 5.5%
Report on strategic options end of April Newmarket Property Trust’s net surplus after tax fell 5.5% to $1.9 million in the December half on total rent down 5.4% to 4.29 million, and expenses down 4.9%. The trust announced a 3.313c/unit interim dividend, representing a 12.5% annualised return on an average 50c unit market price. Earnings/unit […]
Read more →National bids for Newmarket trust again
6-for-10 offer prices Newmarket at 57c The National Property Trust launched a 6-for-10 bid today for the Newmarket Property Trust, on the proviso that it also gains control of Newmarket’s management company. Symphony Group Ltd, headed by Chris Minty & former Chase Corp executive chairman Colin Reynolds, has already made a bid for the management […]
Read more →National’s takeover timetable set back a week
Offer to unitholders 10 June National Property Trust has set back by a week its indicative timetable for the takeover offer for Newmarket Property Trust. Actual timing will depend on whether the Securities Commission grants National an exemption from issuing a prospectus. Subject to that, National wants to deliver its notice of takeover intention to […]
Read more →Update: National unitholders support offer
Update 30 July 2002: National Property Trust unitholders voted today to support the trust’s takeover offer for the Newmarket Property Trust. National’s executive chairman, Paul Dallimore, said the vote made the offer unconditional. The offer closes on Friday 9 August. The other condition, to get acceptance representing more than 50% of Newmarket’s units, has already […]
Read more →Newmarket trust feeling positive
Carpark sold for profit, and Keys confident on leasing Newmarket Property Trust managing director David Keys made announcements about six issues today — the yield on the units, conditional sale of the Rialto carpark, plans for Rialto Heart of Broadway, leasing of the Grant Thornton Centre, prospects for leasing the AA Centre, and the trust’s […]
Read more →National’s takeover timetable set back another week
Offer to unitholders now 19 June National Property Trust has set back by another week its indicative timetable for the takeover offer for Newmarket Property Trust. National changed the original anticipated timetable on Monday 20 May and again on Friday 24 May. Actual timing will depend on whether the Securities Commission grants National an exemption […]
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